Portuguese oil company Galp Energia announced that it plans to double its presence in the Mozambique market in four years through an investment of US$150 million, the Portuguese press reported.

With this planned investment Galp will extend its network of filling stations, as well as setting up two new logistics bases.

The Portuguese oil company plans to increase the number of service stations from the current 57 to 70 by 2020 but, this year wants to increase the network to 60 stations.

The company’s expansion plan in Mozambique also involves the construction of two new logistics bases for the reception, storage and distribution of fuels in the cities of Matola and Beira.

The company will have four logistics bases in Mozambique.

Galp holds a 10% stake in the gas exploration project in the Coral Sul field in northern Mozambique, which also includes Italy’s Eni and South Korea’s Kogas.

Galp recently presented to the Government the Development Plan for the first phase of the Rovuma LNG project which in partnership with Mozambique Rovuma Venture SpA – a joint venture between ExxonMobil, Eni and CNPC – KOGAS and Empresa Nacional de Hidrocarbonetos (ENH).

ExxonMobil will lead the construction and onshore operation and related facilities, while Eni will be the upstream operator. source: macauhub